Covea Finance Cuts Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Covea Finance decreased its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 55.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 22,341 shares of the industrial products company’s stock after selling 27,585 shares during the period. Covea Finance’s holdings in Roper Technologies were worth $12,431,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in shares of Roper Technologies by 134.5% in the 4th quarter. Wellington Management Group LLP now owns 272,763 shares of the industrial products company’s stock worth $148,702,000 after buying an additional 156,468 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Roper Technologies by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 10,072,028 shares of the industrial products company’s stock worth $5,648,796,000 after buying an additional 125,387 shares during the last quarter. American Century Companies Inc. grew its position in shares of Roper Technologies by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 605,769 shares of the industrial products company’s stock worth $341,448,000 after buying an additional 118,971 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Roper Technologies by 4.0% in the 2nd quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock worth $1,512,813,000 after buying an additional 102,199 shares during the last quarter. Finally, Bank of Montreal Can grew its position in shares of Roper Technologies by 31.0% in the 2nd quarter. Bank of Montreal Can now owns 338,887 shares of the industrial products company’s stock worth $192,176,000 after buying an additional 80,255 shares during the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ROP. Jefferies Financial Group lifted their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Oppenheimer decreased their price objective on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Royal Bank of Canada lifted their price objective on shares of Roper Technologies from $674.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Truist Financial restated a “buy” rating and set a $660.00 price objective on shares of Roper Technologies in a research note on Tuesday, August 27th. Finally, Robert W. Baird upgraded shares of Roper Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $617.00 to $635.00 in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Roper Technologies has an average rating of “Moderate Buy” and an average target price of $616.00.

Insider Activity

In other Roper Technologies news, Director Robert D. Johnson sold 140 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $550.34, for a total value of $77,047.60. Following the transaction, the director now owns 5,909 shares of the company’s stock, valued at $3,251,959.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.87% of the company’s stock.

Roper Technologies Price Performance

NYSE ROP traded up $12.10 on Friday, hitting $551.55. The company had a trading volume of 843,484 shares, compared to its average volume of 499,549. The company has a market capitalization of $59.04 billion, a PE ratio of 40.03, a PEG ratio of 2.86 and a beta of 1.02. The company’s fifty day moving average price is $546.08 and its 200-day moving average price is $545.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.53 and a quick ratio of 0.48. Roper Technologies, Inc. has a 12-month low of $474.46 and a 12-month high of $579.10.

Roper Technologies (NYSE:ROP) last released its earnings results on Wednesday, July 24th. The industrial products company reported $4.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $0.02. Roper Technologies had a net margin of 22.14% and a return on equity of 10.77%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. As a group, analysts predict that Roper Technologies, Inc. will post 18.16 earnings per share for the current year.

Roper Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Tuesday, October 8th will be given a dividend of $0.75 per share. The ex-dividend date is Tuesday, October 8th. This represents a $3.00 annualized dividend and a dividend yield of 0.54%. Roper Technologies’s payout ratio is 21.77%.

Roper Technologies Profile

Roper Technologies, Inc designs and develops software, and technology enabled products and solutions. It operates through three segments: Application Software, Network Software, and Technology Enabled Products. The Application Software segment offers management, campus solutions, diagnostic and laboratory information management, enterprise software and information solutions, transportation management, financial and compliance management, and cloud-based financial analytics and performance management software; cloud-based software to the property and casualty insurance industry; and software, services, and technologies for foodservice operations.